[Funding roundup] Falca, BimaKavach, TurboHire raise millions in early-stage deals
Here are the startups that announced early-stage rounds of funding on October 6, 2022.
HR tech startup HROne raises $4M
HR tech SaaS startuphas raised $4 million in a Series A round led by Insitor Partners with participation from Prudent Investment Managers. HROne helps improve the quality of human resource professionals by automating and eliminating more than 80 repetitive and mundane tasks.
HROne's unique proposition includes their InboxForHr interface, which enables professionals to complete more than 125 tasks in less than three clicks. According to the company, this has helped their service see a rise in product adoption and user experience.
The company has bootstrapped their way so far, with 8X revenue jumps in the last three years, while catering to 900+ customers. Founder Karan Jain said of the fund raise, "we aim to use this capital to grow our product capabilities, expand into newer markets, invest in our talent pool and drive a superior customer experience."
Agritech startup FALCA raises $3M
FALCA, an agritech startup that offers farming solutions through its hybrid digital and physical model, has announced that they have raised $3 million. The round was led by Inflection Point Ventures under its $50 million AIF Fund Physis Capital which invests in Series A and B companies.
FALCA claims to be among the fastest agritech startups to have reached Rs 100 crore in revenue, all the while being a bootstrapped firm. The platform provides farmers with access to everything from quality agri inputs to services such as machinery on rent, advisory, storage solutions, and market linkages.
"We are working with 1,00,000 + farmers currently along with 60+ input manufacturers and 65+ corporate buyers enabling transactions worth Rs 140 crore," said Founder and CEO Santosh Danegoudar.
Insurtech startup BimaKavach raises $2M
Indore-based business insurtech startuphas announced a new round of funding totalling $2 million led by WaterBridge Ventures, along with Blume Ventures, Arali Ventures, and Eximius Ventures. The money will be used to scale internal teams, invest in proprietary risk management technology, and build new-age business covers.
BimaKavach is creating a full-service insurance platform for startups and SMEs to help make business insurance acquisition simple. The platform aims to simplify the process of identifying and purchasing the right insurance for any particular company, benefitting both the company and the insurance firms that lose out on business due to this barrier.
“In India, nearly 95% startups/MSMEs are uninsured," says Tejas Jain, Founder of Bimakavach. "We want to fix commercial insurance from scratch by building suitable startup and SME-focused insurance products, automating risk assessment and pricing tools for commercial risks in order to reach a large number of businesses."
Recruitment platform TurboHire raises $2M
Intelligent recruitment automation platformhas raised $2 million led by the Chennai Angels and Pentathlon VC, with participation from T-Fund, Purvansh Holdings, Mumbai Angels, and Hyderabad Angels, as well as global strategic investors Samir Khosla and Francisco Arcilla.
Founded in 2019, TurboHire's platform combines resume intelligence, recruitment automation, and workflows in an easy-to-use user interface to ensure maximum accuracy in candidate selection, while reducing reductions in the cost and time spent to find the right candidates.
The company will be using the funds to further improve its product automation, while focusing on increased revenues from foreign markets.
MyMandi raises Rs 4 Cr from Realtime Angel Fund
Gwalior-based B2B market place for cart pushers MyMandi has raised Rs 4 crore from the SEBI-registered Realtime Angel Fund (RTAF). RTAF is a sector agnostic fund and has kicked off investments in its Rs 100 crore fund with this round.
MyMandi is focused on creating a one-stop solution for cart pushers in Tier-II and Tier-III cities in India. It currently offers an online platform, with plans to offer value-added services such as fintech, electric vehicles and micro-lending opportunities in the future.
Home healthcare startup Humors Tech raises pre-seed round
(WFC), an early-stage investment platform for angels and strategic investors, has announced a pre-seed investment in Humors Tech, a startup creating innovative products for home healthcare. Humors Tech is also part of WFC's global accelerator programme EvolveX.
The startup is building an at-home test that can detect critical diseases such as issues with the heart, kidneys, liver, and lungs, as well as diabetes with accurate health screening on multiple parameters. The test is completely non-invasive and is based entirely on breath technology.
(The copy will be updated with the latest news throughout the day.)
Edited by Kanishk Singh